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Turtle Beach (TBCH)

Market Price (5/19/2026): $10.925 | Market Cap: $213.0 Mil
Sector: Consumer Discretionary | Industry: Consumer Electronics

Turtle Beach (TBCH)

Market Price (5/19/2026): $10.925
Market Cap: $213.0 Mil
Sector: Consumer Discretionary
Industry: Consumer Electronics

Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.

0

Attractive yield
FCF Yield is 11%

Low stock price volatility
Vol 12M is 41%

Megatrend and thematic drivers
Megatrends include Digital Content & Streaming. Themes include Gaming Content & Platforms.

Weak multi-year price returns
2Y Excs Rtn is -73%, 3Y Excs Rtn is -80%

Meaningful short interest
Short Interest % of Basic SharesShort Interest % of Basic Shares = (Short Interest Quantity) / (Basic Shares Outstanding). A high fraction of short interest can indicate potential risk of a short squeeze. is 13%

Expensive valuation multiples
P/EPrice/Earnings or Price/(Net Income) is 179x

Weak revenue growth
Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is -22%, Rev Chg QQuarterly Revenue Change % is -34%

Yield minus risk free rate is negative
ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -3.6%

Significant short interest
Short Interest Days-to-CoverDTC = (Short Interest Share Quantity) / (Average Daily Trading Volume). Reflects how many days it would take to cover (close out) the short interest based on average volumes. High DTC can signify an increased risk of a short squeeze. is 18.75

Key risks
TBCH key risks include [1] supply chain vulnerabilities stemming from its dependence on a limited number of third-party manufacturers and tariff exposure, Show more.

0 Attractive yield
FCF Yield is 11%
1 Low stock price volatility
Vol 12M is 41%
2 Megatrend and thematic drivers
Megatrends include Digital Content & Streaming. Themes include Gaming Content & Platforms.
3 Weak multi-year price returns
2Y Excs Rtn is -73%, 3Y Excs Rtn is -80%
4 Meaningful short interest
Short Interest % of Basic SharesShort Interest % of Basic Shares = (Short Interest Quantity) / (Basic Shares Outstanding). A high fraction of short interest can indicate potential risk of a short squeeze. is 13%
5 Expensive valuation multiples
P/EPrice/Earnings or Price/(Net Income) is 179x
6 Weak revenue growth
Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is -22%, Rev Chg QQuarterly Revenue Change % is -34%
7 Yield minus risk free rate is negative
ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -3.6%
8 Significant short interest
Short Interest Days-to-CoverDTC = (Short Interest Share Quantity) / (Average Daily Trading Volume). Reflects how many days it would take to cover (close out) the short interest based on average volumes. High DTC can signify an increased risk of a short squeeze. is 18.75
9 Key risks
TBCH key risks include [1] supply chain vulnerabilities stemming from its dependence on a limited number of third-party manufacturers and tariff exposure, Show more.

Valuation, Metrics & Events

Price Chart

Why The Stock Moved

Qualitative Assessment

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Turtle Beach (TBCH) stock has lost about 10% since 1/31/2026 because of the following key factors:

1. Turtle Beach significantly missed analyst expectations for its first-quarter 2026 financial results. The company reported an Earnings Per Share (EPS) of -$0.78 on May 7, 2026, which was $0.35 below the consensus analyst estimate of -$0.43. Additionally, net revenue for the quarter was $42.2 million, falling 10% short of expectations. This substantial earnings and revenue miss likely triggered a negative market response and contributed to the stock's decline.

2. The company acknowledged a challenging market environment and a temporary dip in channel inventories. Turtle Beach's CEO stated that the first-quarter results reflected "the continuation of challenging market environments that carried over from 2025" and noted a "temporary dip in channel inventories." These broader industry headwinds affecting product demand likely impacted sales performance during the period.

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Stock Movement Drivers

Fundamental Drivers

The -8.9% change in TBCH stock from 1/31/2026 to 5/18/2026 was primarily driven by a -92.4% change in the company's Net Income Margin (%).
(LTM values as of)13120265182026Change
Stock Price ($)11.9610.90-8.9%
Change Contribution By: 
Total Revenues ($ Mil)347298-14.1%
Net Income Margin (%)5.3%0.4%-92.4%
P/E Multiple13.1178.71259.6%
Shares Outstanding (Mil)20192.9%
Cumulative Contribution-8.9%

LTM = Last Twelve Months as of date shown

Market Drivers

1/31/2026 to 5/18/2026
ReturnCorrelation
TBCH-8.9% 
Market (SPY)7.0%42.7%
Sector (XLY)-3.8%43.9%

Fundamental Drivers

The -35.5% change in TBCH stock from 10/31/2025 to 5/18/2026 was primarily driven by a -92.8% change in the company's Net Income Margin (%).
(LTM values as of)103120255182026Change
Stock Price ($)16.9010.90-35.5%
Change Contribution By: 
Total Revenues ($ Mil)361298-17.4%
Net Income Margin (%)5.5%0.4%-92.8%
P/E Multiple17.5178.7921.3%
Shares Outstanding (Mil)21196.0%
Cumulative Contribution-35.5%

LTM = Last Twelve Months as of date shown

Market Drivers

10/31/2025 to 5/18/2026
ReturnCorrelation
TBCH-35.5% 
Market (SPY)8.9%46.0%
Sector (XLY)-2.7%45.7%

Fundamental Drivers

The -5.6% change in TBCH stock from 4/30/2025 to 5/18/2026 was primarily driven by a -90.8% change in the company's Net Income Margin (%).
(LTM values as of)43020255182026Change
Stock Price ($)11.5510.90-5.6%
Change Contribution By: 
Total Revenues ($ Mil)373298-20.0%
Net Income Margin (%)4.3%0.4%-90.8%
P/E Multiple14.2178.71156.1%
Shares Outstanding (Mil)20192.3%
Cumulative Contribution-5.6%

LTM = Last Twelve Months as of date shown

Market Drivers

4/30/2025 to 5/18/2026
ReturnCorrelation
TBCH-5.6% 
Market (SPY)34.7%46.3%
Sector (XLY)18.9%42.0%

Fundamental Drivers

The 0.3% change in TBCH stock from 4/30/2023 to 5/18/2026 was primarily driven by a 24.2% change in the company's Total Revenues ($ Mil).
(LTM values as of)43020235182026Change
Stock Price ($)10.8710.900.3%
Change Contribution By: 
Total Revenues ($ Mil)24029824.2%
P/S Multiple0.70.7-4.9%
Shares Outstanding (Mil)1719-15.1%
Cumulative Contribution0.3%

LTM = Last Twelve Months as of date shown

Market Drivers

4/30/2023 to 5/18/2026
ReturnCorrelation
TBCH0.3% 
Market (SPY)84.5%47.7%
Sector (XLY)61.2%42.8%

Return vs. Risk

Price Returns Compared

 202120222023202420252026Total [1]
Returns
TBCH Return3%-68%53%58%-19%-23%-50%
Peers Return66%-34%28%29%-11%16%88%
S&P 500 Return27%-19%24%23%16%8%97%

Monthly Win Rates [3]
TBCH Win Rate33%42%50%58%58%40% 
Peers Win Rate55%40%62%47%38%52% 
S&P 500 Win Rate75%42%67%75%67%60% 

Max Drawdowns [4]
TBCH Max Drawdown-43%-74%-38%-30%-52%-28% 
Peers Max Drawdown-37%-46%-30%-39%-41%-22% 
S&P 500 Max Drawdown-5%-25%-10%-8%-19%-9% 

[1] Cumulative total returns since the beginning of 2021
[2] Peers: CRSR, HPQ, DELL, MSFT, KOSS.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 5/18/2026 (YTD)

How Low Can It Go

EventTBCHS&P 500
2024 Yen Carry Trade Unwind
  % Loss-11.9%-7.8%
  % Gain to Breakeven13.5%8.5%
  Time to Breakeven2 days18 days
Summer-Fall 2023 Five Percent Yield Shock
  % Loss-24.4%-9.5%
  % Gain to Breakeven32.3%10.5%
  Time to Breakeven28 days24 days
2023 SVB Regional Banking Crisis
  % Loss-22.7%-6.7%
  % Gain to Breakeven29.4%7.1%
  Time to Breakeven10 days31 days
2020 COVID-19 Crash
  % Loss-40.5%-33.7%
  % Gain to Breakeven68.0%50.9%
  Time to Breakeven28 days140 days
Q4 2018 Fed Policy Error / Growth Scare
  % Loss-28.3%-19.2%
  % Gain to Breakeven39.5%23.8%
  Time to Breakeven581 days105 days
2016-2017 Trump Reflation Bond Selloff
  % Loss-44.0%-3.7%
  % Gain to Breakeven78.4%3.9%
  Time to Breakeven313 days6 days

Compare to CRSR, HPQ, DELL, MSFT, KOSS

In The Past

Turtle Beach's stock fell -11.9% during the 2024 Yen Carry Trade Unwind. Such a loss loss requires a 13.5% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

EventTBCHS&P 500
Summer-Fall 2023 Five Percent Yield Shock
  % Loss-24.4%-9.5%
  % Gain to Breakeven32.3%10.5%
  Time to Breakeven28 days24 days
2023 SVB Regional Banking Crisis
  % Loss-22.7%-6.7%
  % Gain to Breakeven29.4%7.1%
  Time to Breakeven10 days31 days
2020 COVID-19 Crash
  % Loss-40.5%-33.7%
  % Gain to Breakeven68.0%50.9%
  Time to Breakeven28 days140 days
Q4 2018 Fed Policy Error / Growth Scare
  % Loss-28.3%-19.2%
  % Gain to Breakeven39.5%23.8%
  Time to Breakeven581 days105 days
2016-2017 Trump Reflation Bond Selloff
  % Loss-44.0%-3.7%
  % Gain to Breakeven78.4%3.9%
  Time to Breakeven313 days6 days
2015-2016 China Devaluation / Global Growth Scare
  % Loss-56.9%-12.2%
  % Gain to Breakeven131.9%13.9%
  Time to Breakeven818 days62 days
2014-2016 Oil Price Collapse
  % Loss-86.7%-6.8%
  % Gain to Breakeven650.5%7.3%
  Time to Breakeven902 days15 days
2011 US Debt Ceiling Crisis & European Contagion
  % Loss-54.2%-17.9%
  % Gain to Breakeven118.2%21.8%
  Time to Breakeven229 days123 days

Compare to CRSR, HPQ, DELL, MSFT, KOSS

In The Past

Turtle Beach's stock fell -11.9% during the 2024 Yen Carry Trade Unwind. Such a loss loss requires a 13.5% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

About Turtle Beach (TBCH)

Turtle Beach Corporation operates as an audio technology company. It develops, commercializes, and markets gaming headset solutions for various platforms, including video game and entertainment consoles, personal computers, handheld consoles, tablets, and mobile devices under the Turtle Beach brand. The company also offers gaming headsets, keyboards, mice, mousepads, and other accessories for the personal computer peripherals market under the brand of ROCCAT, as well as digital USB and analog microphones under the Neat Microphones brand. It serves retailers, distributors, and other customers in North America, the United Kingdom, Europe, and internationally. The company was founded in 1975 and is headquartered in White Plains, New York.

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  • Logitech for gamers.
  • Razer, but with a stronger focus on console gaming and audio.

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  • Gaming Headsets (Turtle Beach): Headsets designed for various gaming platforms including consoles, PCs, and mobile devices.
  • PC Gaming Peripherals (ROCCAT): A range of accessories for PC gamers, including headsets, keyboards, mice, and mousepads.
  • Microphones (Neat Microphones): Digital USB and analog microphones for various audio applications.

AI Analysis | Feedback

Turtle Beach (TBCH) primarily sells its products to other companies, specifically major retailers and distributors globally.

Based on its public filings, its major customers include:

  • Amazon (AMZN) - accounted for approximately 25% of net revenue in 2023.
  • Best Buy (BBY) - accounted for approximately 18% of net revenue in 2023.
  • GameStop (GME)
  • Walmart (WMT)
  • Target (TGT)
  • Argos (part of Sainsbury's - SBRY.L)
  • MediaMarkt (part of Ceconomy AG - CEC.DE)

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Cris Keirn, Chief Executive Officer

Cris Keirn was appointed CEO of Turtle Beach Corporation in March 2024, having previously served as Interim CEO since July 2023. He joined the company in 2013 and has been a key leader in transforming its product portfolio, holding roles such as Senior Vice President of Global Sales and Vice President of Business Planning and Strategy. Before joining Turtle Beach, Mr. Keirn spent 17 years in leadership positions at Motorola, where he gained extensive experience across Product Management, Operations, Quality, and Customer Relations.

Mark Weinswig, Chief Financial Officer

Mark Weinswig was appointed Chief Financial Officer of Turtle Beach Corporation effective February 3, 2025. He brings over 25 years of financial leadership experience in both private and publicly traded technology companies, including 11 years as a chief financial officer. Prior to Turtle Beach, Mr. Weinswig served as CFO at Ouster following its merger with Velodyne Lidar, and previously held CFO positions at Velodyne Lidar, Inc., Avinger, Emcore, and Avanex. His career began in public accounting at PricewaterhouseCoopers and included a role as an equity research analyst at Morgan Stanley. He holds both Certified Public Accountant and Chartered Financial Analyst designations.

Tom Roberts, Chief Strategy Officer

Tom Roberts is responsible for Turtle Beach's corporate strategy and vision, enhancing corporate innovation, strategic relationships, and mergers and acquisitions. He has 30 years of experience in the video games business, driving the strategy behind new gaming accessories. Prior to joining Turtle Beach, Mr. Roberts served as CTO, CEO, and Senior Executive Vice President of Performance Designed Products (PDP), where he focused on product development, manufacturing, innovation, and overall business operations. He has nearly two decades of experience operating private-equity-backed companies, including CEO roles at Rand McNally, ArrowStream, Fusion Logistics, and Blue Software. Mr. Roberts is also a Senior Operating Partner at Diversis Capital, whose affiliate is a significant shareholder of Turtle Beach.

Joe Stachula, CTO & Senior Vice President, Product Development

Joe Stachula leads the advancement of Turtle Beach's technology and the development of new products.

Kate Zibell, Chief Marketing Officer

Kate Zibell oversees Turtle Beach's brand and creative initiatives, direct-to-consumer strategies, performance marketing, communications, sponsorships, and go-to-market strategy. She has approximately 20 years of expertise in brand storytelling, direct-to-consumer/eCommerce, digital marketing, omni-channel initiatives, and building brand loyalty and customer engagement.

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Here are the key risks to the business for Turtle Beach (TBCH):

  1. Macro-economic Conditions and Volatile Consumer Spending: Turtle Beach is significantly exposed to macroeconomic conditions, including inflationary pressures, potential recession concerns, and shifts in discretionary consumer spending. These factors can directly impact consumer demand for gaming accessories, increase costs of components, transportation, and logistics, and affect overall financial performance. The company's results are also affected by seasonality, with a majority of revenues typically generated in the second half of the year during the holiday season.
  2. Highly Competitive and Rapidly Evolving Gaming Hardware Industry: The gaming hardware industry, in which Turtle Beach operates, is highly competitive and subject to rapid technological change. To remain competitive, Turtle Beach must make substantial investments in product development. There is an inherent risk that these investments may not yield expected returns if new products or technologies do not achieve commercial success, or if rapid shifts in console hardware cycles or new proprietary audio technologies from major platform holders render current products obsolete faster.
  3. Supply Chain Disruptions and Trade Policy Risks: The company faces significant risks related to the manufacture, supply, and shipment of its products. Supply chain and logistics disruptions can lead to shipping delays and increased costs. Furthermore, changes in U.S. and foreign trade policies, including the imposition of tariffs and other trade restrictions, pose critical risks. Such changes could impact Turtle Beach's competitive positioning and financial performance, particularly given the global nature of its supply chain.

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One clear emerging threat for Turtle Beach is the intensifying competition from console manufacturers' first-party gaming headsets. Companies like Sony (PlayStation) and Microsoft (Xbox) are increasingly investing in and promoting their own branded headsets (e.g., PlayStation Pulse 3D Wireless Headset, Xbox Wireless Headset). These first-party accessories often offer deep integration with the console's ecosystem, exclusive features, and compelling pricing, making them highly attractive to console owners. As these offerings continue to improve in quality, features, and marketing presence, they pose a direct and significant threat to Turtle Beach's market share in the lucrative console gaming headset segment.

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Turtle Beach Corporation (TBCH) operates in several addressable markets related to gaming audio and peripherals. Here are the estimated market sizes for their main products and services:

Gaming Headsets (Turtle Beach Brand)

  • Globally, the gaming headset market was valued at approximately USD 2.53 billion in 2024 and is projected to grow to USD 4.77 billion by 2033, at a compound annual growth rate (CAGR) of 7.3% from 2025 to 2033.
  • Another estimate places the global market at USD 2.4 billion in 2024, with a projection to reach USD 4.9 billion by 2034, growing at a CAGR of 7.4% from 2025 to 2034.
  • North America represented the largest share of the gaming headset industry, accounting for 30% in 2024.
  • The Asia Pacific region leads in revenue for gaming headsets, holding a dominant share of 46.2% and generating USD 0.92 billion in 2024.
  • PC/Mac gaming headsets accounted for the largest revenue share, 45% of the market in 2024.

PC Gaming Peripherals (ROCCAT Brand - including headsets, keyboards, mice, mousepads, and other accessories)

  • The global PC gaming peripheral market size was valued at USD 3924.19 million in 2025 and is projected to increase to USD 6605.25 million by 2035, with a CAGR of 5.3% during the forecast period (2026-2035).
  • Another report indicates the global gaming peripheral market was estimated at USD 6,215.0 million in 2024 and is projected to reach USD 11,545.6 million by 2030, growing at a CAGR of 11.0% from 2025 to 2030.
  • North America accounts for approximately 27% of the global PC gaming peripheral market.
  • The Asia Pacific region dominated the gaming peripheral market, accounting for 54.24% in 2024.
  • In 2023, over 48 million gaming mice were sold worldwide, along with 41 million gaming headsets and 39 million mechanical keyboards.

Digital USB and Analog Microphones (Neat Microphones Brand)

  • The global gaming microphones market was valued at USD 1.2 billion in 2024 and is projected to reach USD 2.5 billion by 2033, exhibiting a CAGR of 8.5% from 2026 to 2033.
  • The broader global microphone market was estimated at USD 7.21 billion in 2024 and is projected to reach USD 9.99 billion by 2030, growing at a CAGR of 5.6% from 2025 to 2030.
  • North America held the largest share of the microphone market, exceeding 40% in 2024.
  • The Asia-Pacific microphone market is expected to grow significantly at a CAGR of over 6% from 2025 to 2030, holding approximately 25% of the global share.

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Turtle Beach (TBCH) is expected to drive future revenue growth over the next 2-3 years through several key initiatives and market trends:

  1. New Product Introductions: The company plans a significant increase in new product launches, with over 50% more new products slated for 2026 compared to 2025. These launches, particularly in the second quarter, are aimed at capitalizing on anticipated upgrade and replacement cycles across headsets, controllers, and racing simulation accessories.
  2. Major Game Releases: The gaming industry pipeline, especially the anticipated launch of Grand Theft Auto VI in late 2026, is expected to be a significant catalyst. Such major game releases historically drive substantial increases in gaming engagement and demand for gaming accessories.
  3. PDP Acquisition Synergies: The acquisition of PDP in March 2024 has already boosted Turtle Beach's sales on the Nintendo platform and is expected to continue enhancing overall revenue. This expansion of their portfolio with next-generation gaming accessories positions them to benefit from new console cycles.
  4. Market Share Gains in Core Headsets: Despite recent industry headwinds and overall revenue decline in 2025, Turtle Beach gained market share in its core headset brand. This strengthened competitive position is expected to contribute to revenue growth as the broader gaming accessories market improves.
  5. Expansion of Racing Simulation Products: Turtle Beach has reported strong performance and market share gains in its racing simulation product category. The company plans to continue expanding this segment with more SKUs in 2026, indicating this as a growth area.

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Share Repurchases

  • Turtle Beach authorized a new two-year $75 million share repurchase program.
  • The company repurchased approximately $19 million of shares in 2025, bringing total repurchases over the past two years (2024-2025) to nearly $47 million.
  • As of December 31, 2025, approximately $58 million remained under the current share repurchase program.

Share Issuance

  • No explicit dollar amount of shares issued was found in the available information.

Inbound Investments

  • Turtle Beach implemented a stockholder rights plan in June 2025, designed to deter unsolicited takeovers by triggering if an entity acquires 10% or more of the company's common stock without Board approval.

Capital Expenditures

  • Capital expenditures in Q4 2025 were $0.25 million, representing an 83.57% decrease year-over-year.
  • Capital expenditures in Q3 2025 were $673K, an increase of 103.9% from the prior quarter.
  • Operating expenses for 2026 are expected to remain similar to 2025, with additional investments planned for technology upgrades and brand development.

Better Bets vs. Turtle Beach (TBCH)

Latest Trefis Analyses

TitleDate
0DASHBOARDS 
1How Low Can Turtle Beach Stock Really Go?10/17/2025
Title
0ARTICLES

Trade Ideas

Select ideas related to TBCH.

Unique KeyDateTickerCompanyCategoryTrade Strategy6M Fwd Rtn12M Fwd Rtn12M Max DD
FUN_4302026_Short_Squeeze04302026FUNSix Flags EntertainmentSpecialShort Squeeze PotentialShort Squeeze Potential
Has potential for a short squeeze. High short interest, rising short interest and high debt.		0.0%0.0%0.0%
MGM_4242026_Insider_Buying_GTE_1Mil_EBITp+DE_V204242026MGMMGM Resorts InternationalInsiderInsider Buys | Low D/EStrong Insider Buying
Companies with strong insider buying in the last 1 month, positive operating income and reasonable debt / market cap		-1.5%-1.5%-1.5%
WEN_4242026_Short_Squeeze04242026WENWendy'sSpecialShort Squeeze PotentialShort Squeeze Potential
Has potential for a short squeeze. High short interest, rising short interest and high debt.		-2.5%-2.5%-5.3%
WHR_4102026_Short_Squeeze04102026WHRWhirlpoolSpecialShort Squeeze PotentialShort Squeeze Potential
Has potential for a short squeeze. High short interest, rising short interest and high debt.		-0.8%-0.8%-4.8%
SKY_4022026_Dip_Buyer_FCFYield04022026SKYChampion HomesDip BuyDB | FCFY OPMDip Buy with High FCF Yield and High Margin
Buying dips for companies with high FCF yield and meaningfully high operating margin		3.1%3.1%-1.2%

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Peer Comparisons

Peers to compare with:

Financials

TBCHCRSRHPQDELLMSFTKOSSMedian
NameTurtle B.Corsair .HP Dell Tec.MicrosoftKoss  
Mkt Price10.906.8820.92238.03423.543.9615.91
Mkt Cap0.20.719.4157.13,145.20.010.1
Rev LTM2981,45756,229113,538318,2731328,843
Op Inc LTM7183,5868,251148,957-21,802
FCF LTM23452,8788,55272,916-11,462
FCF 3Y Avg20423,0985,44770,952-11,570
CFO LTM24613,70611,185170,141-11,884
CFO 3Y Avg23543,8058,127136,991-01,930

Growth & Margins

TBCHCRSRHPQDELLMSFTKOSSMedian
NameTurtle B.Corsair .HP Dell Tec.MicrosoftKoss  
Rev Chg LTM-21.7%8.0%4.4%18.8%17.9%3.3%6.2%
Rev Chg 3Y Avg10.2%2.8%-1.7%4.4%15.3%-3.3%3.6%
Rev Chg Q-34.0%-4.1%6.9%39.5%18.3%1.6%4.2%
QoQ Delta Rev Chg LTM-6.8%-1.0%1.7%9.1%4.2%0.3%1.0%
Op Inc Chg LTM-77.7%143.2%-12.5%29.2%22.0%-37.3%4.7%
Op Inc Chg 3Y Avg127.4%-780.0%-8.7%13.2%20.7%26.3%17.0%
Op Mgn LTM2.3%1.2%6.4%7.3%46.8%-17.3%4.3%
Op Mgn 3Y Avg2.0%-0.7%7.3%6.9%45.6%-15.9%4.5%
QoQ Delta Op Mgn LTM-3.8%1.1%-0.2%0.2%0.1%-1.5%-0.0%
CFO/Rev LTM8.2%4.2%6.6%9.9%53.5%-8.7%7.4%
CFO/Rev 3Y Avg7.6%3.9%7.0%8.1%49.5%-2.2%7.3%
FCF/Rev LTM7.7%3.1%5.1%7.5%22.9%-11.2%6.3%
FCF/Rev 3Y Avg6.8%3.0%5.7%5.4%26.1%-5.7%5.5%

Valuation

TBCHCRSRHPQDELLMSFTKOSSMedian
NameTurtle B.Corsair .HP Dell Tec.MicrosoftKoss  
Mkt Cap0.20.719.4157.13,145.20.010.1
P/S0.70.50.31.49.92.91.0
P/Op Inc31.440.55.419.021.1-16.920.1
P/EBIT18.742.36.117.820.0-19.118.2
P/E178.7103.87.726.525.1-34.025.8
P/CFO8.712.05.214.018.5-33.610.4
Total Yield0.6%1.0%15.8%4.7%4.8%-2.9%2.8%
Dividend Yield0.0%0.0%2.8%0.9%0.8%0.0%0.4%
FCF Yield 3Y Avg8.0%5.3%11.7%7.8%2.5%-2.2%6.6%
D/E0.20.30.60.20.00.10.2
Net D/E0.20.10.40.1-0.0-0.40.1

Returns

TBCHCRSRHPQDELLMSFTKOSSMedian
NameTurtle B.Corsair .HP Dell Tec.MicrosoftKoss  
1M Rtn-7.7%6.2%5.2%21.1%0.2%-5.2%2.7%
3M Rtn-7.7%1.3%10.4%102.6%5.8%-9.7%3.6%
6M Rtn-20.4%19.2%-5.9%95.2%-16.2%-16.7%-11.1%
12M Rtn-10.7%-18.7%-25.0%111.0%-6.2%-26.8%-14.7%
3Y Rtn-6.0%-64.9%-22.8%424.2%35.9%0.1%-3.0%
1M Excs Rtn-11.6%2.3%1.3%17.2%-3.7%-9.0%-1.2%
3M Excs Rtn-15.5%15.7%6.8%96.9%-1.2%-12.9%2.8%
6M Excs Rtn-33.5%0.7%-23.8%68.6%-25.4%-27.5%-24.6%
12M Excs Rtn-36.8%-44.6%-48.8%92.2%-31.1%-46.6%-40.7%
3Y Excs Rtn-80.5%-143.1%-99.0%380.8%-39.4%-77.4%-78.9%

Comparison Analyses

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Financials

Segment Financials

Revenue by Segment
$ Mil20252024202320222021
Gaming accessories373258240  
Single segment   366360
Total373258240366360


Operating Income by Segment
$ Mil20252024202320222021
Gaming accessories20-16   
Total20-16   


Net Income by Segment
$ Mil20252024202320222021
Gaming accessories16-18   
Total16-18   


Price Behavior

Price Behavior
Market Price$10.90 
Market Cap ($ Bil)0.2 
First Trading Date10/05/2010 
Distance from 52W High-36.2% 
   50 Days200 Days
DMA Price$11.44$13.62
DMA Trenddowndown
Distance from DMA-4.7%-20.0%
 3M1YR
Volatility42.8%41.5%
Downside Capture122.81183.86
Upside Capture55.32120.15
Correlation (SPY)39.5%49.7%
TBCH Betas & Captures as of 4/30/2026

 1M2M3M6M1Y3Y
Beta0.431.111.101.421.671.64
Up Beta0.050.460.370.811.271.39
Down Beta-0.202.352.062.002.482.21
Up Capture98%58%90%83%150%258%
Bmk +ve Days15223166141428
Stock +ve Days11182651113342
Down Capture300%159%137%172%150%110%
Bmk -ve Days4183056108321
Stock -ve Days10243773134396

[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
Annualized
Return		Annualized
Volatility		Sharpe
Ratio		Correlation
with TBCH
TBCH-8.2%41.3%-0.10-
Sector ETF (XLY)8.8%18.1%0.3243.1%
Equity (SPY)26.7%12.1%1.6649.6%
Gold (GLD)40.7%26.8%1.254.1%
Commodities (DBC)47.8%18.5%1.97-10.8%
Real Estate (VNQ)10.8%13.4%0.5232.5%
Bitcoin (BTCUSD)-23.9%41.9%-0.5425.4%

Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 5-Year Data
Annualized
Return		Annualized
Volatility		Sharpe
Ratio		Correlation
with TBCH
TBCH-15.8%57.8%-0.07-
Sector ETF (XLY)7.0%23.8%0.2645.2%
Equity (SPY)13.8%17.1%0.6447.9%
Gold (GLD)19.5%17.9%0.886.3%
Commodities (DBC)10.8%19.4%0.4410.3%
Real Estate (VNQ)3.4%18.8%0.0834.5%
Bitcoin (BTCUSD)6.9%55.9%0.3420.2%

Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
Annualized
Return		Annualized
Volatility		Sharpe
Ratio		Correlation
with TBCH
TBCH12.3%76.6%0.48-
Sector ETF (XLY)12.5%22.0%0.5230.2%
Equity (SPY)15.5%17.9%0.7429.7%
Gold (GLD)13.2%15.9%0.695.5%
Commodities (DBC)8.6%17.9%0.399.3%
Real Estate (VNQ)5.0%20.7%0.2119.1%
Bitcoin (BTCUSD)67.3%66.9%1.067.5%

Smart multi-asset allocation framework can stack odds in your favor. Learn How

Short Interest

Short Interest: As Of Date4302026
Short Interest: Shares Quantity2.6 Mil
Short Interest: % Change Since 41520266.5%
Average Daily Volume0.1 Mil
Days-to-Cover Short Interest18.8 days
Basic Shares Quantity19.5 Mil
Short % of Basic Shares13.1%

Returns Analyses

Earnings Returns History

Expand for More
 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
3/12/2026-0.7%-15.9%-21.3%
11/6/2025-3.5%-4.5%-3.7%
8/7/20258.8%9.8%4.8%
3/13/2025-5.1%-0.6%-19.2%
11/7/20245.9%-5.5%12.8%
8/8/202415.2%14.9%5.5%
3/13/202426.5%55.8%48.0%
11/7/202312.6%18.6%31.0%
...
SUMMARY STATS   
# Positive1188
# Negative81111
Median Positive8.5%15.7%26.5%
Median Negative-4.3%-5.5%-10.9%
Max Positive26.5%55.8%62.1%
Max Negative-31.8%-27.3%-42.7%

SEC Filings

Expand for More
Report DateFiling DateFiling
03/31/202605/07/202610-Q
12/31/202503/12/202610-K
09/30/202511/06/202510-Q
06/30/202508/07/202510-Q
03/31/202505/08/202510-Q
12/31/202403/17/202510-K
09/30/202411/07/202410-Q
06/30/202408/08/202410-Q
03/31/202405/07/202410-Q
12/31/202303/13/202410-K
09/30/202311/07/202310-Q
06/30/202308/07/202310-Q
03/31/202305/04/202310-Q
12/31/202203/29/202310-K
09/30/202211/14/202210-Q
06/30/202208/08/202210-Q

Recent Forward Guidance [BETA]

Latest: Q1 2026 Earnings Reported 5/7/2026

Forward GuidanceGuidance Change
MetricLowMidHigh% Chg% DeltaChangePrior
2026 Revenue335.00 Mil345.00 Mil355.00 Mil0 AffirmedGuidance: 345.00 Mil for 2026
2026 Revenue Growth5.0%8.0%11.0%00AffirmedGuidance: 8.0% for 2026
2026 Adjusted EBITDA44.00 Mil46.00 Mil48.00 Mil0 AffirmedGuidance: 46.00 Mil for 2026
2026 Adjusted EBITDA Growth10.0%15.0%20.0%00AffirmedGuidance: 15.0% for 2026

Prior: Q4 2025 Earnings Reported 3/12/2026

Forward GuidanceGuidance Change
MetricLowMidHigh% Chg% DeltaChangePrior
2026 Revenue335.00 Mil345.00 Mil355.00 Mil-1.4% LoweredGuidance: 350.00 Mil for 2025
2026 Revenue Growth5.0%8.0%11.0%   
2026 Adjusted EBITDA44.00 Mil46.00 Mil48.00 Mil-8.0% LoweredGuidance: 50.00 Mil for 2025
2026 Adjusted EBITDA Growth10.0%15.0%20.0%   

Insider Activity

Expand for More
#OwnerTitleHoldingActionFiling DatePriceSharesTransacted
Value		Value of
Held Shares		Form
1Scherping, Katherine Lee DirectSell324202611.6219,902231,261168,083Form
2Scherping, Katherine Lee DirectSell324202611.50981,127395,220Form
3Dc, Vga Llc DirectSell822202514.411,388,88820,013,87629,700,624Form
4Wyatt, William Z TDG CP LLCBuy818202514.41693,9629,999,9929,999,992Form

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